The application of western nations' sanctions against oil-rich Iran due to its nuclear ambitions represents an opening to capitalize on increased opportunity, according to Fars News Agency.

Some Turkish firms are considering other options, small Asian nations are looking to be excused due to the small amount they import from the Middle Eastern nation, and Indian outfits are pondering next steps, according to Reuters. But still other Indian outfits are increasing their activity, as are Chinese and Russian firms.

"Sanctions are a kind of good opportunity for us," a Ukrainian oil executive told Fars News.

The sanctions applied against Iran by the U.S. are set to be implemented in the middle of the year, but, before that, the Middle Eastern nation is set to discuss the matter next month in Baghdad with the U.N. security council, the second round of these meetings. The first was earlier this month in Istanbul.

Tehran last week hosted a four-day global gas and oil show that saw increased activity among Asian and East European firms but the only western interests to partake in the event ending Thursday were firms from Norway and Austria.

The Tehran Times reports all Asian and African refiners that purchase Irani oil renewed contracts for this year.

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This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.